SHANGHAI, March 31, 2016 /PRNewswire/ -- China Rapid Finance ("CRF" or the "Company"), a leading online consumer lending marketplace, became a sponsor and founding member of the National Internet Finance Association of China (NIFA), which was officially inaugurated in Shanghai today to facilitate the healthy development of China's internet finance industry.
The association was founded with the approval of China's State Council, and was led by the People's Bank of China, together with the China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission and other relevant regulators. The association has accepted 437 members from among 2,000 applicants.
Joining NIFA as a founding member is a great recognition for CRF, while bringing more responsibilities to the Company. As one of the association's founders, CRF has been actively participating in drafting rules and regulations for industry self-discipline. The Company expects the official release of such rules and regulations will have a positive effect on industry development.
"NIFA will function as a bridge for the interaction between the Internet finance industry and the government's supervising organizations," said Dr. Zane Wang, CEO of China Rapid Finance. "We hope the self-discipline rules and regulations for information disclosure, which NIFA has been working on since its preparatory stage, will be published soon. The healthy development of the Internet finance industry needs these rules and regulations for standardized and self-disciplined information disclosure."
CRF will continue to grow as a leading consumer lending marketplace, with a focus on strict risk management and business innovation, while working together with other NIFA members to drive the development of Internet finance industry in China, Dr. Wang said.
About China Rapid Finance
Founded in 2001, China Rapid Finance is the largest online consumer lending marketplace serving China's emerging middle class. China Rapid Finance is a recognized innovator with the most advanced borrower acquisition system and a proprietary Big Data analytics technology platform that features an end-to-end automated credit decisioning system. The Company has a proven track record in credit risk management and transparency, and has more than 5,000 employees and 80 data verification centers across China.
About DLB Capital
DLB Capital is a global investment and advisory firm focused on underserved industries in the United States, China, India and the Middle East. DLB Capital invests primarily in start-ups and companies in early stages. It was founded in 2006 by Douglas L. Brown, former Vice Chairman Investment Banking at Morgan Stanley, and is based in Wilton, CT. China Rapid Finance is owned through DLB CRF Holdings, LLC and is managed by DLB Capital.
Media Contact for China Rapid Finance:
Edmond Lococo, ICR Inc.
+86 10 6583-7510
Media contact for DLB Capital:
001 203 423 2100
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SOURCE DLB Capital, LLC